Isn’t this a problem?  Here is the link to the CNN article:

http://money.cnn.com/2011/03/15/retirement/retirement_confidence/index.htm

In my profession, it seems you run across two types of people who want to retire.  Those who will be fine regardless of how much planning and investment advice you provide, and those that are out of luck no matter how much planning and investment advice you provide.

The $25k number to me, represents a lack of thinking on the part of the American citizen.  Not that they are stupid.  Just that they aren’t thinking.  Their priorities are messed up.  Perhaps they want that bigger house.  Or the Expedition instead of the Civic.

Perhaps, instead of saving for retirement, they funnel most of their free money into education for their children, or spoil their children by purchasing video games, computers and fancy clothes (I am guilty of this myself).

How many people save for retirement in the amounts they should?  Also not many.  A natural consequence of the Social Security system perhaps.  They are taxed on their earnings and figure that Social Security will just be there when they retire, so why save?

Perhaps that is the problem with Social Security.  Over reliance on it.

But the $25k number is more than that.  It represents a lack of financial literacy by over half of the country.  One hundred and fifty MILLION people (I realize that’s not completely accurate, but I’m taking a little license here) have not put away enough money to live comfortably until they die.

As we clamor about the lack of general education of our children, we need to look to another type of education – that of economic and financial well-being.  Otherwise, we can forget about going to Mars or curing cancer – we’ll be too broke to do it.